XRP Exhibiting Bearish Signals – Anticipating a Potential Price Correction?

Crypto News- In the monthly chart, Ripple (XRP) encountered a bearish rejection at $0.75, leading to a correction with support found at $0.573. Breaching this support could see a test at the 50-month Exponential Moving Average ($0.516) and further down at $0.46. The Moving Average Convergence Divergence (MACD) on the monthly chart remains bullish, supporting a positive medium-term outlook, although the Relative Strength Index (RSI) is neutral, suggesting a mix of potential outcomes.

XRP Exhibiting Bearish Signals – Anticipating a Potential Price Correction?

Despite a bearish shift in the weekly MACD histogram, the MACD lines remain bullish, and the RSI is in neutral territory. The golden crossover in Exponential Moving Averages (EMAs) strengthens the medium-term bullish trend. However, Ripple’s corrective movement this week might test the $0.573 support, potentially leading to a correction toward $0.46.

Daily Update: Golden Crossover vs. Bearish MACD Signals

The golden crossover indicates a short to medium-term bullish trend, yet the bearish crossover in the daily MACD and formation of a lower high suggest potential downward movement. The RSI’s neutrality adds complexity to the market scenario, reflecting conflicting signals in the short-term against a generally bullish medium-term trend.

In the 4-hour chart, the bearish MACD crossover raises the possibility of a ‘death cross,’ signaling short-term bearishness. Despite this, the MACD histogram shows bullish momentum, and the RSI is in a neutral state. Resistance at $0.621 and $0.632 could impede upward movement, emphasizing a complex market scenario with a blend of bearish and bullish signals.

XRP/BTC Analysis: Potential Bearish Break and MACD Trends

Facing the risk of a bearish break below the golden ratio support at 0.0000155 BTC, Ripple’s XRP against Bitcoin might encounter significant support levels in the range of 0.0000124 BTC to 0.0000134 BTC. The MACD histogram signaling a bearish trend aligns with the MACD lines on the verge of a bearish crossover. The RSI’s neutral stance, nearing oversold regions, suggests a potential for continued bearish movement against Bitcoin, with caution on a shift in trend or consolidation.